Novavax (NASDAQ:NVAX) Trading Up 6.7%

Novavax, Inc. (NASDAQ:NVAX)’s share price was up 6.7% during mid-day trading on Wednesday . The company traded as high as $5.80 and last traded at $5.74, approximately 929,326 shares were traded during trading. An increase of 9% from the average daily volume of 855,503 shares. The stock had previously closed at $5.38.

Several equities analysts have commented on the stock. Zacks Investment Research cut shares of Novavax from a “buy” rating to a “hold” rating in a research report on Wednesday, September 4th. ValuEngine raised Novavax from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. HC Wainwright increased their price objective on Novavax from $10.00 to $17.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Finally, Oppenheimer decreased their target price on Novavax from $25.00 to $13.00 and set an “outperform” rating for the company in a report on Tuesday. Two research analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. Novavax has a consensus rating of “Hold” and an average target price of $39.40.

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The business’s 50 day moving average is $5.41 and its 200-day moving average is $3.68. The company has a market cap of $130.14 million, a PE ratio of -0.57 and a beta of 2.04.

Novavax (NASDAQ:NVAX) last announced its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported ($1.69) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.61) by ($0.08). The business had revenue of $3.36 million for the quarter, compared to the consensus estimate of $3.53 million. During the same quarter in the previous year, the company posted ($2.40) earnings per share. On average, research analysts predict that Novavax, Inc. will post -5.6 EPS for the current fiscal year.

Several hedge funds have recently modified their holdings of the stock. GSA Capital Partners LLP purchased a new position in Novavax in the second quarter valued at $197,000. Oppenheimer & Co. Inc. purchased a new stake in Novavax during the 1st quarter worth about $40,000. A.R.T. Advisors LLC acquired a new position in shares of Novavax during the 2nd quarter worth about $435,000. BNP Paribas Arbitrage SA boosted its position in shares of Novavax by 7,685.2% during the 1st quarter. BNP Paribas Arbitrage SA now owns 79,331 shares of the biopharmaceutical company’s stock worth $44,000 after acquiring an additional 78,312 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board purchased a new position in shares of Novavax in the 2nd quarter valued at about $510,000. Hedge funds and other institutional investors own 28.20% of the company’s stock.

Novavax, Inc, together with its subsidiary, Novavax AB, a late-stage biotechnology company, focuses on the discovery, development, and commercialization of vaccines to prevent serious infectious diseases. The company's lead vaccine candidates include ResVax, a respiratory syncytial virus (RSV) fusion (F) protein recombinant nanoparticle vaccine with aluminum phosphate as an adjuvant that is in Phase III clinical trial to protect infants from RSV disease through maternal immunization; and NanoFlu, which is in Phase II clinical trial for treating seasonal influenza in older adults.